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South Korea Cancels 41 Products Tariffs On Cotton Yarn
South Korea's Ministry of planning and Finance recently said that in order to stabilize import prices and support small and medium enterprises, the South Korean government implemented the second emergency this year.
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Tariff presidential decree amendment.
The amendment stipulates that since August 7th, 41 products have been exempted from customs duties, including silk, cotton yarn, glass optical products, cocoa beans, fluorite and other products. Prior to that, the duty rate of silk was 8% and the rate of cotton yarn was 4%.
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